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Ed Cofrancesco, CEO of International Assets Advisory, defends his winner for the electric vehicle manufacturer.
Ford Motor Company is doubling its push towards electric vehicles with a new battery plant in Romulus, Michigan, slated to open next year.
GENERAL MOTORS, CRUISE SUE FORD ON ‘BLUECRUISE’ HANDS-FREE DRIVING ASSISTANCE
Ford will renovate an existing 270,000 square foot facility, which will house up to 200 engineers, researchers, purchasing and finance managers. The facility will include “world-class pilot equipment for electrode, cell and matrix design, as well as engineering and manufacturing innovation.”
New collaborative learning lab, dubbed Ford Ion Park, represents $ 100 million of the automaker’s total $ 185 million investment in the development, testing and construction of battery cells for electric vehicles and networks cells. It’s also part of the company’s $ 30 billion investment in electrification by 2025.
“Ford is already implementing our plan to lead the electric revolution with powerful new vehicles, including the Mustang Mach-E, the 2022 E-Transit available in late 2021 and the 2022 F-150 Lightning available from spring of the year. next, ”said Anand Sankaran, Ford manager Ion Park. said in a statement. “The new lab will help Ford accelerate the battery development process to provide even better performing and affordable batteries and is part of Ford’s renewed commitment to make Michigan a centerpiece of its electric vehicle focus.”
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The latest investment comes after Ford announced that its new all-electric F-150 Lightning pickup truck will be assembled at its Rogue Electric Vehicle Center in Dearborn, Michigan, creating 500 new direct jobs.
In May, Ford also renamed its Van Dyle transmission plant to Van Dyke Electric Powertrain Center and announced that it would expand its production line to produce electric motors and electric transaxles for hybrid and fully electric vehicles, retaining a total of 225 jobs in Michigan.
“Ford’s investment in battery research and development at Romulus will support hundreds of well-paying jobs, attract innovative talent to Michigan, and help us continue to be the global leader in mobility and manufacturing. tip, ”Governor Gretchen Whitmer said. “Ford is an American icon that has left its mark on the world for over a century, and with the research taking place at Ford Ion Park, they will shape the next century while reducing emissions and accelerating electrification. “
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In June, Ford’s electrified vehicle sales rose 117% for the month and set a half-yearly record of 56,570 vehicles. Meanwhile, Ford’s overall vehicle sales for the month fell 26.9% year-over-year as the auto industry continued to feel the pain of a continuing shortage of semiconductor chips.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 13.70 | -0.30 | -2.14% |
Ford will offer a full picture of its second quarter results for 2021 on Wednesday.
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